Sinpex Raises 10 Million Euros as KYB Becomes Mission-Critical Ahead of EU AML Reset

German regtech startup Sinpex has raised 10 million euros to scale its know-your-business (KYB) platform as European anti-money laundering regulations undergo a major reset. The funding comes at a critical time as new EU AML rules create urgent demand for automated compliance solutions.

Sinpex's platform automates the business verification process that financial institutions must conduct on their corporate customers, reducing the time and cost of KYB checks while improving accuracy and compliance.

The raise positions Sinpex to capitalise on the wave of compliance spending triggered by the EU's new AML package, which requires financial institutions to significantly upgrade their business customer due diligence processes.